Archive for Lisa Kingston

Italy’s Ferrero To Buy Nestle U.S. Candy Business

Italy’s Ferrero has agreed to buy the U.S. confectionery business of Swiss food group Nestle for $2.8 billion in an all-cash deal. The business has about $900 million in sales and represents roughly 3 percent of U.S. Nestle Group’s sales. The deal is expected to be completed near the end of the first quarter, Nestle […]

Citigroup Makes Moves To Close Gender Pay Gap

Citigroup (NYSE: C) is pledging to close pay gaps between genders and ethnicities in the U.S., United Kingdom, and Germany in the near future. An internal compensation assessment detailing wages in the three countries found that women on average were paid slightly less what men got and minorities on average received slightly less of what […]

SEI Investments (SEIC) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of SEI Investments (NASDAQ:SEIC) from a hold rating to a strong-buy rating in a report published on Friday, January 5th. Zacks Investment Research currently has $84.00 price objective on the asset manager’s stock. According to Zacks, “SEI Investments’ shares have significantly outperformed the industry over the last six months. The […]

StoneCastle Financial (NASDAQ:BANX) vs. MFS Charter Income Trust (MCR) Head to Head Contrast

StoneCastle Financial (NASDAQ: BANX) and MFS Charter Income Trust (NYSE:MCR) are both small-cap finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their valuation, profitability, risk, institutional ownership, earnings, dividends and analyst recommendations. Institutional & Insider Ownership 32.4% of StoneCastle Financial shares are owned by […]

AT&T Not Selling Huawei Phones In Near Future

AT&T Inc. (NYSE: T) has reportedly canceled plans to sell smartphones made by Chinese electronics giant Huawei Technologies Co. The company was widely expected to announce that AT&T would partner to sell the device during its presentation at CES, one of the tech industry’s biggest shows. An anticipated deal between Huawei and Verizon is also […]

Macy’s Reports Strong Holiday Season

Macy’s Inc. (NYSE: M) said it had a “strong” holiday season and reported better-than-expected results for the period. Macy’s comparable sales rose 1 percent during the months of November and December compared with the same period last year. Top-selling items for the period included coats, sweaters, boots, and fragrances. Macy’s full-year sales are still expected […]

Spotify Sued For $1.6 Billion

Wixen Music Publishing has sued Spotify for allegedly using thousands of songs without license and compensation. The Wixen suit accuses Spotify of failure to “comply with the requirements of Section 115 of the Copyright Act” and of failing to obtain either a direct license or a compulsory license to use the songs in their catalogue. […]

YouTube Gone From Amazon Devices

Alphabet’s Google (NASDAQ: GOOGL) has followed through on its threat to block Amazon (NASDAQ: AMZN) devices from accessing YouTube. The Google action affects all Fire TV devices, as well as the Echo Show, Amazon’s smart speaker device with a screen. Some users lost access as early as last week. The spat that led to the […]

Goldman Sachs Claims New U.S. Tax Law Will Cost It $5B

Goldman Sachs Group Inc. (NYSE: GS) said the new tax laws signed in the United States will cost it about $5 billion in fourth-quarter earnings. The charge will reduce an estimated $1.9 billion in earnings for the quarter to a likely loss of around $3 billion. The effect of the tax changes on Goldman Sachs […]

Apple Offers Explanation For iPhone Slowing

Frustrated iPhone owners have long accused Apple (NASDAQ: AAPL) of artificially slowing down older phones to drive new sales. After years of denials regarding the practice, Apple recently admitted that it was deliberately slowing down older iPhones. The practice only came to light after being discovered by a developer, instead of being clearly disclosed by […]

Benefits Of Calcium And Vitamin D Supplements Questionable

A new study has found that taking calcium and vitamin D supplements may not provide the health benefits expected. Researchers are saying that there is little evidence in the medical literature showing that the pills help prevent bone fractures. The researchers based their findings on clinical trials, systematic reviews and other reports published over the […]

OkCupid Under Fire For Plan To Enforce Real-name Rules

OKCupid recently released an open letter announcing that the company will begin rigorously enforcing rules that require users to use their real names before year’s end. The company’s letter says, “We want you, BigDaddyFlash916, to go by who you are, and not be hidden beneath another layer of mystique.” A test group of OKC members […]

New National Security Doctrine Calls Out China, Russia

A new 68-page national security doctrine published by the White House is under fire for describing Russia and China as “revisionist” powers for seeking a change in the American-led world order. The document acknowledges Russia’s hostile schemes, identifies long-term challenges with China, and builds on Trump’s “America first” rhetoric. The national security strategy provides Congress […]

UPS Places Order For 125 Tesla Semi-trucks

United Parcel Service Inc. (NYSE: UPS) has announced it has placed an order for 125 Tesla all-electric semi-trucks. UPS chief information and engineering officer Juan Perez called the trucks “groundbreaking.” The UPS order is the largest known order for the big rig so far, with an order valuation of about $25 million. Scott Phillippi, UPS […]

AOL Instant Messenger Ends 20-Year Run

AOL Instant Messenger (AIM) was officially shut down on Friday after 20 years in action. Verizon’s Oath previously announced in October that Dec. 15 would be the platform’s last day. The company had already removed third-party support in March, cutting off many access points. AOL was acquired by Verizon in June 2015 for $4.4 billion. […]

FCC Rescinds Obama-era Net Neutrality Rules

The Federal Communications Commission has voted to dismantle the rules that require internet providers to give consumers equal access to all content online. New regulations were passed by the Republican-controlled agency by a 3-2 vote. The replacement rules are slated to go into effect as soon as next month. The original rules were put into […]

U.S. Astronauts Going Back To Moon Under Trump Directive

President Donald Trump has signed a directive to begin the process to return Americans to the moon. The directive, titled “Space Policy Directive 1”, creates a foundation for a future mission to the moon. The directive also establishes a foundation for an eventual mission to Mars and beyond. The directive would have NASA put people […]

Ford Announces Plan To Build Electric Cars in Mexico

Ford Motor Company (NYSE:F) has stated its plans to assemble new battery-powered cars in Mexico. Sherif Marakby, Ford’s vice president for autonomous vehicles and electrification, said that producing the electric cars in Mexico will allow Ford to improve the “fitness” of that business and take advantage of lower labor costs. In 2020, the company will […]

Trump Administration Decision On Jerusalem Roils Middle East

President Donald Trump has roiled the Middle East with the announcement that the United States would formally recognize Jerusalem as Israel’s capital. Mr. Trump argued that acknowledging Jerusalem as the seat of Israel’s government was “the right thing to do” and “a long overdue step to advance the peace process.” The move drew a storm […]

CVS Makes $69 Billion Bid For Aetna

CVS Health (NYSE:CVS) has announced it has reached a deal to purchase Aetna (NYSE:AET) for about $69 billion. Under the terms of the deal, CVS will pay about $207 a share for the insurer. Roughly $145 a share of that would be in cash, with the remainder in newly issued CVS stock. Aetna stockholders will […]

Volvo’s New Subscription Service Includes Insurance

Volvo is launching a new Care By Volvo program that is basically a subscription service for SUVs. The Swedish automaker announced details of the program at Wednesday’s Los Angeles Auto Show. Care By Volvo will be rolling out nationally. Pricing for Care By Volvo’s subscription plan starts at $600 a month (exclusive of tax and […]

Time Inc. Sold To Meredith Corp.

The Meredith Corporation (NYSE:MDP) has purchased Time Inc. (NYSE:TIME) for nearly $3 billion in an all-cash transaction. Under the terms of the deal, Meredith will pay $18.50 a share for the publisher. The boards of both companies have already finalized the deal. The deal is expected to close in the first quarter of 2018. In […]

Black Friday Strikes Hit Amazon In Germany, Italy

Some of Amazon’s (NASDAQ:AMZN) workers in Europe chose one of the biggest shopping days of the year to protest the company’s practices. Black Friday is a US tradition that has been embraced by Europeans in recent years. Retailers like Amazon offer large discounts on clothing, electronics and toys during the shopping holiday. Amazon employees were […]

Trump Expresses Disdain For AT&T-Time Warner Deal

AT&T Inc.’s (NYSE:T) merger with Time Warner Inc. is under fire after negative comments from the White House. President Donald Trump said the merger between the companies would be “not good for the country.” Trump made the comment as he departed the White House for his Mar-a-Lago resort in Palm Beach, Florida. Earlier this week, […]

Children’s Smartwatches Now Banned In Germany

Germany has taken action to protect children by banning the sale of smartwatches aimed at them. Telecoms regulator the Federal Network Agency implemented the ban to prevent companies from obtaining data on German children. The German regulator said the devices violated Germany’s strict surveillance laws. A large number of providers in Germany currently sell smartwatches […]

FCC Relaxes Rules On Media Company Mergers

The Federal Communications Commission has voted to eliminate some regulations regarding the mergers of media companies. FCC Chairman Ajit Pai said that the rules were harmful to traditional media outlets in today’s media world. The regulations were eliminated in a 3-to-2 vote. The rules that federal regulators rolled back are decades old. They were first […]

Wal-Mart Adding Lord & Taylor Products To Lineup

Wal-Mart Stores Inc. (NYSE:WMT) has announced plans to add products from Lord & Taylor to its website. The companies are currently working through terms of a partnership that would make Lord & Taylor the “exclusive premium department-store partner” of Wal-Mart. Rumors of a proposed deal emerged last October. Lord & Taylor products will be available […]

Toxic New Delhi Air Prompts United Airlines Flight Cancellations

United Airlines (NYSE:UAL) has canceled flights to New Delhi until further notice citing the toxic smog surrounding the city. Travel to New Delhi is suspended through at least Tuesday (Nov. 14), according to an advisory posted on United’s website. The company’s statement said, “United has temporarily suspended our Newark-Delhi flights due to poor air quality […]

Uber Expanding Its Flying Taxi Plans

Jeff Holden, head of projects for Uber, has announced that the company intends to add to its growing list of pilot cities for flying taxis. By 2020, the company hopes to launch the service in Dubai, Dallas-Fort Worth, and now Los Angeles. The updated plans were revealed during a speech at the Web Summit, held […]

Starbucks Opening New Bakeries In Reserve Roastery Locations

The newest menu items at Starbucks’ (NASDAQ:SBUX) Seattle Reserve Roastery location is freshly baked bread and focaccia sandwiches. Starbucks opened a high-end Italian Princi Bakery inside the location on Tuesday. The new offerings from the bakery include more than 100 menu items made from ingredients imported from Italy. Rocco Princi, founder of the bakery, opened […]

Square Announces New $999 Point-of-sale Device

Square Inc. (NYSE:SQ) has announced a new addition to its hardware lineup: a new point-of-sale device called the Square Register. The Register is meant for larger sellers using Square or considering using it. Square’s Head of Software Jesse Dorogusker said that the ultimate goal is for the Register to replace “the giant beige and gray […]

Twitter To Increase Transparency For Ads On Its Platform

Twitter (NYSE:TWTR) has announced it is changing its advertising policies to provide more information about the ads running on its site. An advertising transparency center created by the company will reveal details about all ads running on the platform. Twitter said it would disclose who had paid for the advertisement and allow users to find […]

Sears Ends Partnership With Whirlpool

Sears Holdings Corp. (NASDAQ:SHLD) has announced that it will no longer be selling Whirlpool appliances. Sears told employees in a memo sent to stores last week. Sears is also pulling Whirlpool-made KitchenAid, Maytag and Jenn-Air products from its floor. The end of the Sears-Whirlpool partnership is effective immediately. The move comes after a pricing dispute […]

Anthem Moves To Create Own Pharmacy Benefit Manager

Anthem Inc. (NYSE:ANTM) has announced a partnership with CVS Health Corp. to launch a new pharmacy benefit management company called IngenioRx. According to a statement regarding the new initiative, the partnership involves a five-year agreement to “combine its member and provider engagement initiatives and market leading pricing.” IngenioRx will handle “sales, marketing, account management, and […]

Hundreds Of Tesla Workers Let Go

Palo Alto, Calif.-based Tesla (NASDAQ:TSLA) has reportedly fired hundreds of employees after what the company described as “an annual performance review” of its more than 33,000 employees. The firings reportedly included engineers, managers, salespeople and factory employees. According to reports, an estimated 400 to 700 people were dismissed this week, representing between 1 percent and […]

Google Launches New Tech Training Programs

Google announced a new $1 billion investment in nonprofit organizations to boost tech training programs over the next five years. The investment is being made under the “Grow With Google” initiative. According to company executives, the goal is to allow anyone with an internet connection to become proficient with technology. Google CEO Sundar Pichai believes […]

Coach Inc. Becomes Tapestry Inc. October 31

Iconic luxury handbag maker Coach Inc. (NYSE:COH) will be changing its corporate name to Tapestry Inc, at the end of October. When the name change goes into effect, the company will start trading under the ticker symbol “TPR” on the New York Stock Exchange. Its new website, tapestry.com, is already live. Tapestry will be the […]

Trump Reveals Harsh Conditions For DACA Deal

President Trump is demanding a long list of line immigration measures that in exchange for any deal to protect the young undocumented immigrants known as Dreamers. The Dreamers are comprised of roughly 800,000 young immigrants brought here illegally as children. The demands represented terms that hard-line conservatives have been pursuing for decades. Administration officials say […]

Get Ready For Flu Season With An Annual Flu Shot

Some health experts are predicting a bad flu season ahead. Cases of the flu are already being diagnosed across the country. Last year’s flu season peaked in December and then again in February. This year’s flu season appears to be starting even earlier. One of the best ways to avoid contracting the flu is to […]

Tesla’s Model 3 Production Misses Target

Tesla (NASDAQ:TSLA) has reported missing its production goal for the new Model 3 by a wide margin. The company only produced 260 Model 3 cars from late July through September 30. The company had set a goal of producing 1,500 units during the period. The Palo Alto, California-based company delivered just 220 Model 3 sedans […]

Ford Partners With Lyft On Self-Driving Service

Ford Motor Company (NYSE:F) has entered a partnership with Lyft to eventually use self-driving cars as a paid transportation service. Ford announced the partnership in a blog post. Sherif Marakby, Ford’s vice president for autonomous vehicles and electrification, said in the post that the service would be “capable of quickly dispatching a self-driving vehicle so […]

Ryanair Announces More Flight Cancellations

Ryanair (NASDAQ:RYAAY) has canceled flights for hundreds of thousands more customers due to a shortage of pilots. The company said it will cancel 18,000 flights scheduled between November and March. Ryanair previously said that it would cancel 40 to 50 flights a day up until the end of October. It also said it would temporarily […]

Uber May Lose London Operating License

Uber may not be allowed to operate in London in the future after its license renewal request was denied on Friday. The company’s license to operate in the British capital expires on Sept. 30. The company has called for talks with London’s transport regulator Transport for London to find a solution to the matter. Uber […]

Verizon Ending Service For Thousands Of Rural Customers

Verizon Communications (NYSE:VZ) is terminating the plans of 8,500 rural customers in 13 states over data usage. The customers are spread across Alaska, Idaho, Iowa, Indiana, Kentucky, Maine, Michigan, Missouri, Montana, North Carolina, Oklahoma, Utah, and Wisconsin. A Verizon spokesman said that seven of the states have less than 500 customers, while four states have […]

Equifax Under Fire For Linking To Fake Site

Equifax Inc. (NYSE:EFX) is under fire after it was found to be linking to a fake website as part of its efforts to inform consumers about a cyberattack the company disclosed in early September. As many as eight public tweets has sent potential victims to the same false address since September 9th. The tweets were […]

Northrop Grumman Announces Bid For Orbital ATK

U.S. defense contractor Northrop Grumman (NYSE:NOC) has announced plans to buy missile and rocket maker Orbital ATK (NYSE:OA) for about $7.8 billion in cash. Northrop will also assume $1.4 billion in Orbital’s net debt. Orbital ATK shareholders will receive $134.50 per share, a 22 percent premium to the company’s Friday closing price of $110.04. Orbital […]

Senator Warren Launches Bill Aimed At Equifax

U.S. Senator Elizabeth Warren, along with 11 other Democratic senators, has introduced a bill to allow consumers to freeze their credit for free after a massive data breach at Equifax. The proposed bill would stop companies like Equifax from charging consumers to freeze their credit files. However, with a Republican-controlled Congress, it will be a […]

Olive Garden Pasta Pass Is Back With New Twist

Darden Restaurant’s (NYSE:DRI) Olive Garden is once again selling its unlimited Pasta Passes. The Pasta Pass lets pasta lovers indulge in Never Ending Pasta Bowls for eight weeks for $100. Pasta Pass holders will have from Sept. 25 through Nov. 19 to eat unlimited pasta, soup, salad and breadsticks. The Pasta Pass will be sold […]

Target Enters Price War With Amazon and Walmart

Earlier this year, Target (NYSE:TGT) announced to investors that it planned to lower prices to better compete with Walmart and Amazon. That plan is now in effect. In its blog post, Target said it has “lowered our prices on thousands of items, from cereal and paper towels to baby formula, razors, bath tissue and more.” […]

Nissan Shows Off New 2018 Leaf

Nissan just revealed its new Leaf model at extravagant ceremonies held in Tokyo and Las Vegas. The car goes on sale in early 2018. Nissan showed off red, white, and blue models during the events. The global unveiling was live streamed from Japan on a huge screen. The original Leaf was groundbreaking as a mass-market […]